Welcome to our dedicated page for Mullen Automotive news (Ticker: MULN), a resource for investors and traders seeking the latest updates and insights on Mullen Automotive stock.
Overview
Mullen Automotive Inc is a Southern California-based manufacturer and distributor of commercial electric vehicles (EVs) and advanced energy solutions. Specializing in the design and production of cutting-edge EV trucks and cargo vans, the company delivers innovative mobility solutions tailored for commercial fleets and urban last-mile delivery. With robust capabilities in battery production and digital transformation, Mullen Automotive Inc has positioned itself as a key player in the rapidly evolving landscape of sustainable transportation and commercial EV innovation.
Business Segments and Operations
Mullen Automotive Inc operates through two primary segments, each serving distinct market needs. The Bollinger segment focuses on high-performance commercial trucks that cater to fleets requiring powerful and durable transportation solutions, while the Mullen Commercial segment specializes in vehicles designed for urban logistics, including the Class 1 EV cargo van (Mullen ONE) and the Class 3 EV cab chassis truck (Mullen THREE). The company’s state-of-the-art manufacturing facilities, located in Tunica, Mississippi and Mishawaka, Indiana, underscore its commitment to U.S.-based production and quality control.
Dealer Network: Mullen Automotive Inc has cultivated an extensive dealer network across key regions, ensuring nationwide sales and comprehensive service coverage.
Regulatory Compliance: All vehicles are developed in full compliance with U.S. Federal Motor Vehicle Safety Standards, EPA requirements, and California Air Resources Board (CARB) certifications, ensuring superior safety and environmental performance.
Technological Innovation and Digital Integration
Innovation is at the core of Mullen Automotive Inc's strategy. The company has embraced advanced battery manufacturing technologies by integrating assets from established industry players, thereby enhancing its production capabilities and driving down costs. Moreover, its proprietary digital platform, Carhub, leverages artificial intelligence to provide a seamless and interactive experience for buying, selling, and owning a vehicle. This digital-first approach not only modernizes the consumer experience but also reinforces the company’s reputation as a forward-thinking leader in the commercial EV space.
Market Position and Industry Significance
Mullen Automotive Inc is strategically positioned to meet the growing demand for sustainable commercial transportation solutions. Its product portfolio, which ranges from versatile cargo vans to sophisticated trucks designed for urban logistics, addresses the dynamic needs of commercial fleets and specialized market segments such as home service operations. The company's emphasis on U.S.-based production, strategic partnerships, and adherence to rigorous safety and environmental standards contributes to its competitive edge in the evolving EV market. Through continuous innovation and a focus on operational excellence, Mullen Automotive Inc delivers practical, scalable, and efficient mobility solutions that resonate with both fleet operators and end users.
Expertise and Industry Leadership
Mullen Automotive Inc demonstrates deep industry expertise through its commitment to cutting-edge technology and quality manufacturing. The company’s integrated approach combines advanced production processes with digital innovations, ensuring that every vehicle meets the highest standards of performance, safety, and environmental sustainability. Its strong focus on compliance and quality control builds trust among customers, stakeholders, and industry regulators. As a result, Mullen Automotive Inc not only meets the current demands of the commercial EV market but also sets the benchmark for future advancements in electric mobility.
Mullen Automotive subsidiary, Bollinger Motors, has achieved a significant milestone with the production of its first customer-ready B4 electric truck on September 20, 2024, in Livonia, Michigan. The event marked Bollinger's transition to a full-fledged Original Equipment Manufacturer (OEM).
Key highlights include:
- The Bollinger B4 is an all-electric Class 4 Chassis Cab, entirely assembled in the USA in partnership with Roush Industries.
- Bollinger has secured several vehicle sales, including 145 to Momentum Group, 70 to Doering Fleet Management, and 50 to EnviroCharge.
- The company has expanded its dealer and service center network, partnered with ONE for battery packs, Syncron for warranty administration, and Amerit Fleet Solutions for mobile service.
- Bollinger has received CARB certification, FMVSS compliance, and EPA Certificate of Conformity.
The launch event was attended by employees, suppliers, and government leaders, showcasing strong support for Bollinger's contribution to sustainable transportation and Michigan's automotive industry.
Mullen Automotive provides an update on the $210 million UAE order from Volt Mobility. The company's technical and sales team are in Dubai this week to support the initial market launch, including the delivery of the first Mullen ONE EV cargo vans and Mullen THREE cab chassis trucks on Sept. 18, 2024. Mullen plans to supply 300 all-electric commercial vehicles in 2024 and an additional 3,000 vehicles in 2025. The company will also establish a parts and service network to support Volt Mobility's fleet operations.
Mullen is working with VoltiE Group, a Miami-based EV charging company, to provide EV vehicles and charging equipment to Volt Mobility, which operates in the Gulf Cooperation Council (GCC) region of the Middle East. This collaboration aims to expand Mullen's presence in the UAE market, which CEO David Michery describes as a very important opportunity for the company.
Bollinger Motors has announced the pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The company began production on September 16 and will start deliveries in October 2024. Notably, buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 in IRS tax credits and up to $60,000 from California's HVIP program.
The B4 features a 158-kWh battery pack and is designed with input from fleets and upfitters. It's now available for order through Bollinger's national dealer network. Recent developments include sales agreements, dealer partnerships, and collaborations with suppliers like Our Next Energy for battery packs and Amerit Fleet Solutions for mobile services.
Mullen Automotive subsidiary Bollinger Motors has announced pricing for its 2025 Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, with an MSRP of $158,758. The B4 features a 158-kwh battery pack and began serial production on September 16, 2024, with deliveries starting in October 2024.
Buyers can qualify for over $100,000 in state and federal incentives, including up to $40,000 from the IRS clean vehicle credit and up to $60,000 from California's HVIP program. The B4 is available through Bollinger's national dealer network and can be customized with dealer accessories and factory options, including an e-PTO unit available in January.
Recent developments include vehicle sales to Momentum Group, Doering Fleet Management, and EnviroCharge, as well as dealer and service agreements with several automotive groups.
Mullen Automotive (NASDAQ: MULN) has entered into a sales and service agreement with Papé Kenworth, expanding its commercial EV dealer network. Papé Kenworth, part of the Papé Group, operates in 9 states with over 150 locations, 815 service bays, and 1,500 technicians. This partnership marks Mullen's seventh franchise dealer addition in recent months.
The collaboration aims to accelerate commercial EV adoption by combining Mullen's innovative lineup with Papé Kenworth's extensive network and industry expertise. Mullen's commercial EVs include the Class 1 Mullen ONE cargo van and Class 3 Mullen THREE cab chassis truck, both compliant with U.S. safety standards and eligible for various state and federal incentives.
Mullen Automotive Inc. (NASDAQ: MULN) has announced a 1-for-100 reverse stock split effective Sept. 17, 2024. This move is primarily aimed at complying with Nasdaq's $1.00 minimum bid price requirement. Key points include:
- The stock will continue trading under MULN symbol
- New CUSIP number: 62526P505
- Stockholders approved the split on Sept. 9, 2024
- 100 current shares will convert to 1 share
- Adjustments will be made to equity awards, warrants, and convertible notes
- No fractional shares will be issued; all fractions rounded up
- The split won't alter stockholders' percentage interest (except for rounding)
Continental Stock Transfer & Trust Company will serve as the exchange agent. Stockholders don't need to take action for the split.
Bollinger Motors, a commercial electric vehicle manufacturer, has added Affinity Truck Center to its retail network. Affinity will sell the all-electric Bollinger B4 at locations in Bakersfield and Fresno, California, with service centers in Paso Robles and Salinas. The B4 Chassis Cab is a Class 4 commercial truck with a 158-kwh battery pack, designed for fleets and upfitters.
Bollinger Motors will begin serial production of the B4 on September 16, with deliveries starting in October 2024. This expansion follows recent milestones, including partnerships with other dealerships, warranty coverage announcements, EPA certification, and significant vehicle sales to various companies. Affinity Truck Center, a family-owned business since 1980, is certified under California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP).
Mullen Automotive's subsidiary, Bollinger Motors, has expanded its retail network by adding Affinity Truck Center as an official dealer. Affinity, a California Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP) certified dealership, operates in multiple California locations. The Bollinger B4, an all-electric Class 4 commercial truck, will begin serial production on September 16, 2024, with deliveries starting in October 2024.
This expansion follows recent milestones for Bollinger, including partnerships with other dealers, full warranty coverage for the B4 chassis cab, EPA certification, and significant vehicle sales to various companies. The move strengthens Bollinger's presence in California's Central Valley and supports the region's transition to electric vehicles.
Bollinger Motors has achieved California Air Resources Board (CARB) certification for its all-electric Bollinger B4 Class 4 trucks, a important step towards becoming sales-ready. This certification allows sales in 15 CARB-compliant states and opens up access to significant incentives. When combined with the $40,000 IRS rebate, customers can potentially save up to $100,000 through programs like California's HVIP project.
Production of the B4 is set to begin on September 16, 2024, with customer deliveries starting in October. This milestone follows several recent achievements, including EPA certification, full warranty coverage, and major vehicle sales to companies like Momentum Group and Doering Fleet Management.
Mullen Automotive's subsidiary, Bollinger Motors, has achieved a significant milestone with its B4 all-electric Class 4 truck receiving California Air Resources Board (CARB) certification. This certification allows Bollinger to sell vehicles in 15 CARB-compliant states and opens up access to substantial incentives. When combined with the $40,000 IRS rebate, customers can potentially save up to $100,000 through programs like California's HVIP.
Bollinger Motors is set to begin production of the B4 on September 16, 2024, with customer deliveries starting in October. The company has already secured several vehicle sales agreements and expanded its network of dealers and service centers. This CARB certification is a important step in Bollinger's mission to electrify vehicle fleets nationwide.
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